Markets extended their gains for the second consecutive session on Thursday amid mixed cues. Technically, analysts say the Nifty has reclaimed its medium-term moving average, the 100-day EMA, around the 24,130 zone, indicating an improvement in the overall bullish tone. A sustained move above this level could pave the way for an extension towards the 24,450-24,600 zone in the near term.
In today's trade, shares of Marico, Adani Enterprises, Tata Motors PV, PB Fintech, PNB among others will be in focus due to various news developments and first quarter updates.
Marico
Marico said on Thursday it expects consolidated first-quarter revenue to grow in the low-twenties percentage range, helped by robust performance across its core, digital and international businesses. The maker of Parachute coconut oil and Saffola edible oils said its India business delivered double-digit underlying volume growth, reaching a multi-quarter high.
Tata Motors PV
Tata Motors reported a strong start to FY27 in its passenger vehicle business, with total sales rising 46% year-on-year in the June quarter, driven by robust demand for its new launches and continued strength in electric vehicles. The company sold 1,82,574 passenger vehicles across domestic and international markets during the April-June quarter, compared with 1,24,809 units in the year-ago period.
Adani Enterprises
Adani Enterprises on Thursday launched its qualified institutional placement (QIP) to raise funds from institutional investors, fixing a floor price of Rs 3,034.68 per equity share for the issue. The company informed stock exchanges that its QIP Committee approved the opening of the issue on July 2 and adopted the preliminary placement document. The floor price has been determined in accordance with the pricing formula prescribed under the Sebi rules.
PB Fintech
Temasek arm Mac Ritchie Investments is likely to sell 1.19 crore shares (2.6% equity) in the company for about Rs 1,908 crore.
PNB
State-owned Punjab National Bank (PNB) and Bank of India on Thursday reported a 13% and 19% increase in total credit, respectively, in the first quarter of FY27. Loans rose to Rs 12.75 lakh crore from Rs 11.29 lakh crore in the first quarter of the last financial year, PNB said in a regulatory filing.
HDFC Bank
HDFC Bank, once hobbled by tech issues, has built its own AI platform and fraud-monitoring system that go beyond what fintech platforms offer. The latest platforms will help the lender overcome the challenges posed by proliferation of frauds in the banking system as a whole, Ramesh Lakshminarayanan, group head of information technology and chief information officer at HDFC Bank, told ET.
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